SHERMAN - The Sherman Economic Development Corp. (SEDCO) Board of Directors approved an incentive agreement that will pay Tyson Foods $460,000 during the next two years as the company continues its capital investments to the level of $11 million and 75 new jobs.

Tyson initially announced the expansion project in February as part of planned capital investments of more than $40 million in four of its plants.

SEDCO President Scott Connell said. “The commitment for this year is $4 million and they’re $5 million into it, so they’re ahead of schedule.” Connell said Tyson’s long-term investment, allows SEDCO to plan for “some things down the road.”

“They’re the largest employer in the county and it’s a significant opportunity for us to continue to work with our existing employers who continue to make investments here," Connell said.

The SEDCO Board of Directors also approved a $160,000 infrastructure incentive for a new Brookshire’s Food, Pharmacy and Fueling Station at 1125 N. FM 1417.

Brookshire’s secured site plan approval and ordinance exceptions for the proposed 42,240-sf grocery store during last month’s Planning and Zoning Commission meeting. The company plans to begin construction later this year and open for business sometime in 2014.